Is Algae The Answer To Carbon Capture? Intrinsic Foundries’ Green Fix For Toxic Waste

by · Inc42

SUMMARY

  • Intrinsic Foundries is developing an algae-based carbon capture and utilisation platform to convert industrial waste streams into high-value biochemicals
  • The company has developed two platforms, one to convert industrial flue gas, and another to absorb emissions from wastewater streams
  • Another of its innovations involves cultivating algae in 3D printed hollow tubular photobioreactors to address engineering challenges posed by conventional algae lakes
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Believe it or not, the simplest form of life can actually outsmart the most complex life form when it comes to protecting the climate. That’s where a Jharkhand-based startup is betting big time. 

The technology to capture and bury carbon dioxide has gasped for breath to ramp up to the level it was expected, despite climate policy experts pushing for various methods for decades and billions being invested. 

Countries and industries continue to struggle to get carbon capture, utilisation, and storage (CCUS) projects up and running, with the technology projected to trap only 40% of the target by 2030, while most major economies have pledged to go net-zero on emissions by 2050. 

One of the major hurdles to widespread adoption of CCUS is that the technology incurs hefty costs but doesn’t yield immediate returns, effectively blocking the money and, in turn, slowing down commercial adoption. These systems are also energy-intensive and require specialised (often toxic) chemicals to isolate carbon dioxide from industrial flue gas. 

Intrinsic Foundries aims to resolve such challenges by developing algae-based CCUS platforms that consume industrial waste and use it as a fuel to create precious biochemicals. Founded in 2023 by Shreyansh Jain, Sanjay Jain, and Umang Jain, it raised ₹12 Cr seed funding from Transition VC in February to expand its research activities, conduct more commercial pilots, and expand its team. It has also been part of the startup incubator programmes run by IIM Ahmedabad and Shell. 

What drove the trio into the CCUS domain? “You can’t overlook the growing demand for CCUS,” Shreyansh Jain told Inc42.

An 8% annual average growth rate is expected to propel the $2.97 Bn global market to $6.17 Bn by 2033. On the home front, finance minister Nirmala Sitharaman has earmarked up to ₹20,000 Cr to scale up CCUS technologies as the government aims to capture 750 Mn Tonnes of carbon dioxide emissions from industries like steel, cement, and chemicals by 2050. The move aims to advance India’s target of going net-zero before 2070 by decarbonising manufacturing while continuing to power GDP growth.